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April 30, 2023
Probe in full swing into W8tr stock market wipeout
...ive arrangement that pays the difference in settlement price between the opening and closing of a trade, without actually owning the stocks. In response to the crisis, securities firms, including Samsung Securities and Korea Investment & Securities, have closed new deals on CFD trading...
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April 30, 2023
S. Korea, US agree to minimize US CHIPS Act-induced uncertainties
... announced the US CHIPS and Science Act aimed at boosting the country's semiconductor industry by offering ample subsidies to global chipmakers to build chip manufacturing facilities on its soil. Samsung Electronics, the world's No. 1 memory chipmaker, is building a chip manufacturing ...
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April 28, 2023
LG beats Q1 earnings estimates, outpaces Samsung for 1st time
...ctronics announced surprise earnings for the January-March period, outpacing its crosstown rival Samsung Electronics' financial result for the first time in more than a decade. In a regulatory filing...-year to 546.5 billion won over the three months. This means LG’s quarterly profit...
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April 28, 2023
Korean chip, car industries unassuaged by summit talks
...en also said it would create jobs in America and also in Korea, but did not elaborate how the subsidy plan would benefit Korean companies. “It’s creating jobs in South Korea, not just SK but with Samsung and in other industries,” said the president, referring to Samsung El...
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April 28, 2023
Samsung posts worst quarterly earnings in 14 years
Samsung Electronics, which posted its worst quarterly earnings in 14 years amid weak demand and falling chip prices, said it expects a gradual recovery in the second half of the year as the effects o... in this process," Suh Byung-hoon, vice president and head of the investor relations di...
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April 27, 2023
SK hynix suffers record loss in Q1, eyes recovery in Q2
...s to build chip production facilities in the US, South Korean chipmakers, including SK hynix and Samsung Electronics, have been under pressure, as they also have key manufacturing plants in China. For...he company added. SK hynix said it has seen small changes in consumer sentiment aft...
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April 27, 2023
Korean battery makers bolster EV alliance in US to tackle IRA
...e US in response to the protectionist Inflation Reduction Act, industry sources said Wednesday. Samsung SDI announced Tuesday it is poised to build a joint venture with General Motors in the US. Deta...und 200,000 EVs. It is set to start production in 2026. The manufacturing facility ...
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April 27, 2023
Korea, US ink 23 MOUs to rachet up tech alliance
..." in the face of rapid changes in the international political order and supply chain transformation. With Yoon in attendance, a total of 39 representatives of major Korean conglomerates including Samsung, SK, Hyundai Motor, LG and Lotte, as well as top executives of US companies such a...
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April 27, 2023
Korea, US agree to bolster ties on bioeconomy
...ss the industrial impact of the Inflation Reduction Act. "Through this (memorandum), we look forward to sharing future strategies of our bio industry, a crucial industry for both countries,” said Samsung Bioepis CEO Ko Han-sung, who is also the president of the Korean biotechnology ad...
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April 27, 2023
Posco Future M, LG Energy Solution sign W30tr cathode supply deal
...o LG Energy Solution, the nation’s largest electric vehicle battery maker, for the next seven years. The mega deal comes after the company secured a 10-year supply deal worth 40 trillion won with Samsung SDI, another major battery maker here, in January. Cathode, making up more than ...
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April 26, 2023
Apple still in need of Korea-made displays despite production push
...ed as a new player in the display market when seen from a long-term perspective. However, it will continue to source at least 60 percent of its components from Korean display manufacturers such as Samsung Display and LG Display for the next several years. The US tech giant’s transitio...
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April 26, 2023
Samsung, Posco join forces to tackle business uncertainties
South Korean steel giant Posco said Tuesday it had signed its first ever long-term agreement with Samsung Electronics in a bid to expand technical cooperation between the two industrial giants and to jointly seek new business opportunities. According to Posco, its Vice Chairman Kim Hak-d...
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April 26, 2023
Hyundai Motor outpaces Samsung in quarterly earnings for 1st time
...ing profits of 3.6 trillion won ($2.7 billion) in the first three months of this year, outpacing Samsung Electronics in quarterly earnings for the first time. The auto giant reported surprising earni...e first quarter, with operating profits jumping up 86.3 percent on-year. During the ...
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April 26, 2023
Samsung SDI, GM to build $3 bln EV battery plant in US
Samsung SDI Co. said Tuesday it is pushing to build an electric vehicle (EV) battery manufacturing facility in the United States in a joint venture with General Motors Co. The South Korean battery m...oduce nickel-rich prismatic and cylindrical cells to supply GM for its upcoming EVs. I...
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April 25, 2023
Samsung, SK under renewed pressure to join US chip battle against China
...l any market gap" in China, if Beijing bans US-based Micron Technology from selling chips. Both Samsung Electronics and SK hynix said they had not received such a request from the government. The Fi...me time, the US is making clear its intent to involve the world's two largest memory...
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April 24, 2023
Yoon joined by chaebol leaders on US trip amid concerns of protectionism
... to build EV battery plants in the US, with investments totaling 7 trillion won ($5.3 billion). Samsung had also announced the investment plan of $17 billion to build the Taylor foundry when Biden vi... conglomerates are also expected to meet with their industry counterparts during the...
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April 24, 2023
Market cap of listed firms gains 16.4% in 2023
...won, while the secondary bourse Kosdaq rose by over 30.79 percent from 312.6 trillion won to 408.85 trillion won. On Kospi, tech stocks, represented by market heavyweights, led gains. Tech giant Samsung Electronics was the top runner on the index, holding the largest market cap of 392...
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April 23, 2023
Apple Pay triggers surge in Hyundai Card users
...s of Hyundai Card in March was the highest among eight local credit card companies -- Lotte, BC, Samsung, Shinhan, Woori, Hana, Hyundai and KB Kookmin Card. The figure is also around twice the number...okmin Card attracted 149,000 new members, followed by Shinhan Card with 136,000 new ...
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April 21, 2023
Samsung Life buys 20% stake in Meridiam SAS
Samsung Life Insurance announced on Thursday that it has acquired a 20 percent stake in Meridiam SAS, a French private equity firm focused on infrastructure investment. With this investment, Samsung Life has become the second-largest shareholder of the French company. "As Meri...
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April 21, 2023
Is Google Korea no longer dream workplace?
... in which the Google union is affiliated. Working at Google has been one of the most coveted jobs in Korea, coming with hefty incentives even compared to other highly paid jobs at chaebol such as Samsung Electronics and Hyundai Motor. According to a recent poll conducted by the anonym...
December 23, 2024
